Why Hong Kong’s Expats Are Struggling with IPMI (And What Brokers Need to Do About It)
Hong Kong is a magnet for expats, with over 700,000 non-residents calling it home. It’s a global financial hub, a gateway to China, and a city where high-level professionals expect world-class healthcare.
But here’s the issue: Many expats think they’re covered—until they’re not.
Brokers, IFAs, and employment benefit offices face the same challenge over and over again: Expats don’t understand the limits of their health insurance until they need it.
- Some rely on employer-provided coverage, not realising how limited and localised it is.
- Others assume their credit card’s travel insurance will work—until they get hit with a hospital bill in the tens of thousands.
- A few opt for cheaper local plans, only to find out they exclude vital treatments and may not provide adequate coverage for expats who require private healthcare access.
The result? Brokers get the angry call. And when a client is in crisis, it’s already too late.
Let’s break down what’s happening, how to fix it, and why brokers in Hong Kong can win big by solving these pain points. Unlike many global cities, Hong Kong has a dual-tier healthcare system, with both public and private hospitals. While the public system is world-class, it often comes with long wait times and limited specialist access—something many expats don’t expect. The private sector offers faster, high-quality care, but it comes at a steep price, making the right IPMI coverage essential.
Brokers who proactively educate their clients on these compliance requirements position themselves as trusted advisors.
The Biggest Mistakes Expats Make with Health Insurance in Hong Kong
1. “I Thought My Employer’s Plan Covered Everything”
Hong Kong has a thriving expat workforce. Many assume their company-provided health insurance will fully protect them. It won’t.
- Many corporate plans exclude dependents, leaving spouses and kids uncovered.
- Coverage often caps out quickly—one major surgery can max out an annual limit.
- Employers switch providers regularly, meaning expats lose continuity in coverage and risk exclusions for pre-existing conditions when changing jobs.
Brokers can step in by offering top-up IPMI policies that fill these gaps before clients realise they exist.
2. “I Have a Travel Insurance Plan”
This is one of the most dangerous misconceptions. Many expats assume their credit card’s travel insurance or a short-term medical policy will be enough.
It won’t.
- Travel insurance is for emergencies only—not routine check-ups, ongoing treatments, or chronic conditions.
- Many travel policies have 90-day limits, meaning long-term expats are left uninsured without realising it.
- These plans often exclude specialist care, maternity, and high-cost private hospitals.
Many expats opt for minimal coverage, not realising that local plans often exclude private hospital access or major treatments, leaving them financially exposed when serious medical issues arise
Brokers need to educate clients on the difference between travel insurance and comprehensive IPMI.
3. “I Took the Cheapest Local Plan”
Hong Kong has some of the best private hospitals in Asia—but they don’t come cheap.
- A simple hospital stay can cost HKD 20,000+ per night.
- Cancer treatments easily exceed HKD 1 million.
- Many local insurance plans exclude major surgeries and specialist consultations.
Expats who opt for a cheap local plan just to tick a regulatory box often regret it when they need real medical care. IPMI ensures they have full access to private healthcare without financial ruin.
How Brokers in Hong Kong Can Sell More IPMI (Without Just Competing on Price)
The common objection brokers face? “IPMI is too expensive.”
Here’s what they need to understand:
- Local insurance is cheaper because it covers less. Expats only realise this when they need treatment.
- IPMI gives freedom. The ability to seek care at the best hospitals, not just the cheapest ones.
- The real cost isn’t the premium—it’s the hospital bill. One emergency surgery can cost more than five years of premiums.
Take this case: A broker in Hong Kong recently worked with a client who was hesitant about IPMI costs. The client, a senior executive, opted for a cheaper local plan to “save money.” Six months later, he faced an unexpected HKD 800,000 hospital bill (approximately $102,000) for a major surgery. His insurance covered only a fraction, forcing him to pay out of pocket. After that, he switched to an IPMI plan with full private hospital coverage, realising the value far outweighed the cost.
Brokers who can shift the conversation from price to value will close more deals—and protect more clients from financial disaster.
Why Health Compass Makes IPMI Easier for Brokers
At Health Compass, we know brokers in Hong Kong don’t have time to sift through endless policy documents.
Our Broker Tool solves that problem.
- Instantly compare multiple IPMI providers.
- Identify policy exclusions before clients do.
- Offer plug-and-play white-label solutions so brokers can sell seamlessly.
With Health Compass, brokers sell faster, close bigger deals, and eliminate policy confusion.
And this April, we’re bringing these insights straight to you.
Join David Eline at the Health Compass Roadshow in Hong Kong
We’re hosting a live event in Hong Kong on April 11, where we’ll be diving deeper into:
✅ How top brokers in Asia are closing more IPMI deals.
✅ What most advisors get wrong about selling health insurance.
✅ How the right tools can help you sell smarter (not harder).
✅ Compliance pitfalls brokers must be aware of.
✅ Real-world case studies of brokers increasing their IPMI revenue.
Seats are limited.
📍 Register here: health-compass.com/tour
Or, if you prefer, let’s chat before the event: https://calendly.com/health-compass/45-min-meeting
Let’s make sure your clients never get caught uninsured in Hong Kong. The right IPMI plan can be the difference between financial security and unexpected medical debt. Join us to gain the insights, strategies, and tools that will set you apart in the industry. Your expertise is your biggest advantage—let’s make sure you’re positioned to win. See you there!
About Health Compass
This article belongs to Health Compass, the company leading the way in modern IPMI distribution.
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